Question

Suggestion of sole trader concerns

Answer 1

Sole trading concern is the simplest, oldest and in some respect, the most natural form of business organization in private sector. According to Professor Henry,” the individual proprietor is the form of business organization at the head of which stands an individual as one who is responsible, who directs its operations and who alone runs the risk of failure.”

In this form a single individual is solely responsible for providing the capital, for bearing the risk and for overall management and control of the enterprise. In is the one man show owned, managed and operated by one person.